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Zeal Bangla Sugar Mills fiscal Q2 loss widens YOY

Zeal Bangla Sugar Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of 7.16 taka per share, compared with a loss of 6.96 taka per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 43.0 million taka, compared with a loss of 41.7 million taka in the year-earlier period.

The normalized profit margin climbed to negative 41.5% from negative 59.5% in the year-earlier period.

Total revenue rose 47.8% on an annual basis to 103.7 million taka from 70.1 million taka, and total operating expenses increased 44.7% year over year to 150.4 million taka from 103.9 million taka.

Reported net income came to a loss of 68.8 million taka, or a loss of 11.46 taka per share, compared to a loss of 66.8 million taka, or a loss of 11.13 taka per share, in the year-earlier period.

As of Feb. 2, US$1 was equivalent to 77.77 taka.